In some countries, owning a home rather than renting one is very important for people. Why might this be the case? Do you think this a positive or negative situation?

In several countries, people prefer their homes to be purchased rather than rented. Since the reason for owning things is the feeling of being safe whether a property was lent or not, it is in our human nature. In my point of view,

this

trend gives tremendous negative effects on citizens having a dwelling place. The community tends to choose to have their own homes over rentals in order to fulfil their needs. The main reason is associated with psychological stability from owning a house. Assuming that the public has their own houses, they do not necessarily need to pay rental payments every month.

Therefore

,

this

would make the residents comfortable when they are even unemployed.

Furthermore

, the residents who have a property do not necessitate a lease contract with landlords. In many cases, the contract between tenants and landlords not only gives much stress to tenants but makes them anxious. Because the majority of landlords make decisions

according to

their profits.

Thus

, tenants can be evicted, even though they are eager to extend their contract with the current landlord.

On the other hand

, in spite of the advantages mentioned above, the pitfalls of possessing one’s own dwelling are bigger than its advantages. First of all, buying an apartment is a huge economic burden on the residents as the middle class may not be able to afford to buy a condo where they live.

For example

, it is inevitable for them to borrow checks from banks in relation to the concept of a mortgage loan.

As a result

, the population have to repay their loan for several decades when but a house.; much of the interest would accrue over the period, which leads to more psychological and economic burdens than the resident renting an estate.

In addition

, the folks owning their houses have to pay various types of taxes and insurance fees.

Moreover

, as these are increasing gradually, the house owner feels onerous when they pay for them. In conclusion. Having explored the reasons those hold dwelling place in some nations, I found negative perspectives in the form of having one’s own property. In the future, it would be recommended that the government should review and improve support systems

such

as subsidies, education, counselling services, and regulations/policies.